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India Stock Market Daily Regulatory Digest — May 27, 2026

Daily India Market Intelligence

By Gunpowder Editorial ·

50 medium priority 50 total filings analysed

Executive Summary

The May 27, 2026, filing batch reveals a market bifurcated between strong operational performers and companies facing significant financial distress.

Key themes include a wave of exceptional charges related to new labour codes impacting profitability across sectors like auto ancillaries (TVS Srichakra, Cummins India) and glass manufacturing (Asahi India), while capital goods and export-oriented firms (Cummins India, Carysil) show robust revenue growth. A notable divergence is visible in the textile sector, where Ramco Industries posted a 26% net profit surge but its textiles segment declined 18.5% YoY, while APM Industries slipped into a net loss. The financial health of smaller firms is under scrutiny, with GTT Data Solutions, TV Vision, and Keerthi Industries reporting widening losses and negative net worth or liquidity concerns. Insider activity was sparse but notable, with a promoter of Paisalo Digital making a small open-market purchase. Forward-looking data points to aggressive growth targets from Gabion Technologies (40-45% revenue jump) and significant capital-raising plans from NHC Foods ($27M FCCBs) and Sindhu Trade Links (₹697 Cr acquisition funded via equity dilution). Capital allocation is mixed, with Cummins India leading shareholder returns with a ₹46 final dividend, while several firms cut dividends (Shiva Texyarn from ₹3 to ₹0.60). The overall sentiment is cautiously optimistic for large-caps and niche players, but bearish for leveraged small-caps with governance concerns.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Corporate governance · Corporate action · M&A

Tracking the trend? Catch up on the prior India Stock Market Daily Regulatory Digest digest from May 26, 2026.

Investment Signals (10)

  • Consolidated revenue grew 22% YoY to ₹11,949.73 Cr, PAT up 18.1% YoY, with a final dividend of ₹46/share (2,300%) plus interim ₹20, signaling strong cash generation and shareholder commitment.

  • Standalone net profit surged 123.8% YoY to ₹82.71 Cr, with Q4 PAT up 226.9% YoY, driven by operational leverage and a 12.1% revenue increase.

  • FY26 PAT grew 53% YoY to ₹98 Cr, EBITDA margins expanded 30% YoY, and online business is expected to scale 2x-3x in FY27, indicating strong execution in the kitchen solutions space.

  • Revenue grew 22.7% YoY to ₹10,422 Mn, EBITDA margins expanded 172 bps to 27%, and the company maintains a net cash position of ₹4,674 Mn with zero debt, despite visa policy headwinds.

  • Targets 40-45% revenue jump to ₹200 Cr in FY27, backed by capacity doubling to 18,000 MT by Sep 2026 and an order book of ₹200 Cr, though FY26 growth fell short of guidance.

  • Total comprehensive income swung to ₹450.65 Cr from a loss of ₹0.63 Cr in FY25, with a dividend of ₹20/share, but Q4 profit plunged 77.8% QoQ, warranting caution on sustainability.

  • Standalone net profit rose 26% YoY to ₹111.26 Cr, but the Textiles segment revenue declined 18.5% YoY and Q4 OCI loss of ₹24.60 Cr dragged total comprehensive income to just ₹1.56 Cr.

  • Final dividend of ₹0.70/share (35%) declared with an unmodified audit opinion, but subsidiaries reported a combined net loss of ₹13.35 Mn, indicating potential drag on consolidated performance.

  • Promoter group member Sunil Purushottanm Agarwal acquired 1,281,000 shares (0.14% of voting capital) via open market on May 27, signaling confidence at current levels.

  • Q4 revenue grew 6% YoY to ₹436 Cr, online business grew 37% YoY to ₹200 Cr, and Spencer's format EBITDA rose 40% to ₹14 Cr, but full-year revenue declined 10% and PBT loss remained flat at ₹250 Cr.

Risk Flags (10)

  • GTT Data Solutions [HIGH RISK]

    Standalone net loss widened to ₹1,989.65 Lakh in Q4 FY26 from a profit of ₹45.67 Lakh in Q3, with other expenses surging. The company is converting inter-corporate deposits into equity, signaling severe financial stress.

  • TV Vision [HIGH RISK]

    Standalone net loss widened to ₹3,447.21 Cr for FY26 from ₹2,668.71 Cr, net worth is deeply negative at ₹14,425.49 Cr, and the auditor issued a qualified opinion due to an NCLT petition by PNB under IBC.

  • APM Industries [HIGH RISK]

    Net loss of ₹352 Lakh in Q4 FY26 vs a profit of ₹67 Lakh in Q4 FY25, driven by exceptional loss on disposal of power generating sets. Full-year revenue declined 8.1% YoY.

  • Keerthi Industries [HIGH RISK]

    Current liabilities exceed current assets by ₹53.79 Cr, with delays in creditor payments. Revenue from continuing operations declined 3.2% YoY, and the company is selling assets (Electronic Division) to manage liquidity.

  • Sindhu Trade Links [MEDIUM RISK]

    Proposed acquisition of 78.26% in Advent Coal Resources for ₹697 Cr via preferential allotment at a premium, causing 16.31% dilution. The transaction is with related parties, raising governance concerns.

  • Asahi India Glass [MEDIUM RISK]

    Net profit declined 15.2% YoY despite 8.5% revenue growth, impacted by higher depreciation, finance costs, and a ₹654 Lakh exceptional charge for new labour codes.

  • Shiva Texyarn [MEDIUM RISK]

    Dividend slashed from ₹3 to ₹0.60 per share despite a 5.5% revenue increase, as total expenses grew at the same pace and profit before tax declined 3.6% YoY.

  • Pan India Corporation [MEDIUM RISK]

    Auditor issued a modified opinion regarding maintenance of accounts under Rule 11(g), and the company incurred a loss for the year, indicating potential accounting or compliance issues.

  • CHL Limited [MEDIUM RISK]

    Auditor highlights an ongoing litigation involving a subsidiary's loan from EXIM Bank, with a liability of USD 34 million crystallized by the Economic Court of Dushanbe, posing contingent liability risk.

  • Dhansafal Finserve [MEDIUM RISK]

    Despite 142% revenue growth, cash flow from operations is deeply negative at ₹(3,887.81) Lakhs, reflecting aggressive lending and potential asset-liability mismatch.

Opportunities (8)

  • Cummins India (OPPORTUNITY)

    With a final dividend of ₹46/share (2,300%) and strong 22% revenue growth, the stock offers a high-yield play in the capital goods space. Record date for dividend is July 17, 2026.

  • TVS Srichakra (OPPORTUNITY)

    Net profit more than doubled in FY26, and the company recommended a ₹37.80 dividend (378%). The exceptional charges (labour codes, VRS) are one-time, and underlying operational performance is strong.

  • Carysil Limited (OPPORTUNITY)

    FY26 PAT up 53% YoY, UK manufacturing challenges are isolated, and the US subsidiary achieved operational breakeven. Online business scaling 2x-3x in FY27 provides a growth catalyst.

  • Targets 40-45% revenue growth to ₹200 Cr in FY27, with capacity doubling by Sep 2026. The order book of ₹200 Cr provides strong visibility, and the stock may re-rate if guidance is met.

  • Goldiam International (OPPORTUNITY)

    Board approved a 1:3 bonus share issuance, a positive signal for retail investors. The record date is yet to be announced, and the bonus shares are to be credited by July 25, 2026.

  • The company swung to a massive total comprehensive income of ₹450.65 Cr in FY26 from a loss, and declared a ₹20 dividend. The Q4 profit decline is a concern, but the full-year turnaround is significant.

  • Ramco Industries (OPPORTUNITY)

    Debt-to-Equity improved to 0.13 from 0.20, and Current Ratio improved to 2.15 from 1.79. The Building Products segment's Q4 revenue decline (7%) may be temporary, and the stock could benefit from a recovery.

  • Crizac Limited (OPPORTUNITY)

    Zero-debt balance sheet with ₹4,674 Mn net cash, 27% EBITDA margins, and 41% PAT growth. The company is well-positioned to weather visa policy headwinds due to its multi-geography sourcing model.

Sector Themes (6)

  • Labour Code Impact Across Sectors

    Multiple companies (TVS Srichakra, Asahi India, Cummins India, APM Industries) reported exceptional charges related to new labour codes, impacting Q4 and FY26 profitability. This is a one-time, non-cash charge that will normalize in FY27, but it depressed reported earnings for the current year.

  • Textile Sector Divergence

    Ramco Industries' textiles segment revenue fell 18.5% YoY, while APM Industries reported a net loss and revenue decline of 8.1%. In contrast, Shiva Texyarn managed a 5.5% revenue increase, but margin pressure led to a dividend cut. The sector is under structural pressure.

  • Capital Goods Strength

    Cummins India (22% revenue growth) and TVS Srichakra (12.1% growth) reported strong performances, driven by infrastructure and industrial demand. This contrasts with the broader market weakness in consumer-facing sectors.

  • Small-Cap Financial Distress

    GTT Data Solutions, TV Vision, and Keerthi Industries are reporting widening losses, negative net worth, or liquidity issues. This highlights the risk in leveraged small-caps and the importance of balance sheet quality.

  • Dividend Trends Mixed

    While Cummins India (₹46/share) and TVS Srichakra (₹37.80/share) declared high dividends, Shiva Texyarn cut its dividend from ₹3 to ₹0.60, and several others maintained or slightly increased payouts. This indicates a preference for reinvestment over distribution in some firms.

  • International Education & Export Resilience

    Crizac Limited (22.7% revenue growth) and Carysil (14% revenue growth) demonstrated resilience despite geopolitical headwinds (visa policies, UK challenges, Gulf crisis), benefiting from diversified sourcing and strong institutional relationships.

Watch List (8)

  • Sindhu Trade Links EGM
    👁

    Shareholder meeting on June 18, 2026, to vote on ₹697 Cr related-party acquisition and capital raise. The outcome will signal governance standards and dilution impact. [June 18, 2026]

  • NHC Foods FCCB Listing
    👁

    The company issued $27M FCCBs (1.5% coupon) proposed to be listed on AFRINEX Exchange. Monitor conversion and dilution impact over the 5-year tenure. [May 29, 2026]

  • Gabion Technologies Capacity Expansion
    👁

    Capacity doubling to 18,000 MT by Sep 2026 is key to achieving the 40-45% revenue growth target. Monitor execution and order inflows. [September 2026]

  • Carysil Online Business Scaling
    👁

    The company expects online business to scale 2x-3x in FY27. Watch for quarterly disclosures on e-commerce contribution and profitability. [FY27]

  • TV Vision IBC Proceedings
    👁

    NCLT petition by PNB under IBC could lead to resolution or liquidation. Monitor court orders and creditor meetings. [Ongoing]

  • Keerthi Industries Liquidity
    👁

    Current liabilities exceed current assets by ₹53.79 Cr, with delayed creditor payments. Watch for further asset sales or restructuring announcements. [Ongoing]

  • Ramco Industries AGM & Dividend
    👁

    Record date for dividend is August 13, 2026, and AGM on August 20, 2026. The dividend of ₹1.25/share and reappointment of independent director will be voted on. [August 13-20, 2026]

  • Conart Engineers Board Meeting
    👁

    Board to consider audited results on May 30, 2026. Trading window reopens on June 2, 2026. Watch for any financial surprises. [May 30, 2026]

Filing Analyses (50)
Alkali Metals Limited Corporate Governance neutral materiality 3/10

27-05-2026

Alkali Metals Limited intimated the stock exchanges that its Board of Directors, at a meeting held on 26th May 2026, approved the appointment of Mr. Y.V. Prashanth as an Executive Director for a term of 3 years effective 1st June 2026, subject to shareholder approval. Mr. Prashanth, who previously served as an Executive Director, is a promoter group family member, being the son of Managing Director Sri Y.S.R. Venkata Rao and the brother of Non-Executive Director Ms. Y. Lalithya Poorna. No financial figures or period-over-period performance data were disclosed in this filing.

  • · The appointment is subject to approval of members at the ensuing Annual General Meeting (AGM).
  • · Mr. Y.V. Prashanth holds B. Pharmacy from Andhra University and MS in Pharmacy from USA.
  • · Mr. Prashanth's experience includes Liquidity Management, Client Development, Marketing, Receivables and Payables Management.
  • · The appointment was approved under Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015.
  • · The effective date of the appointment is 1st June 2026.
  • · No financial or operational data was included in this filing; it is solely a governance disclosure.
Oseaspre Consultants Ltd. Corporate Governance neutral materiality 3/10

27-05-2026

Oseaspre Consultants Ltd. dispatched letters to members without registered email addresses, providing a web-link to access the Annual Report for FY 2025-26 and the Notice for the 44th Annual General Meeting (AGM). The AGM is scheduled for June 19, 2026, at 12:30 AM IST at the company's registered office in Mumbai. This filing is a procedural compliance step under Regulation 36(1)(b) of SEBI Listing Regulations.

  • · The 44th AGM is scheduled for 19th June, 2026 at 12:30 AM IST at the Registered Office: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001.
  • · Annual Report for FY 2025-26 is also available on BSE website (www.bseindia.com) and KFin e-voting platform (https://evoting.kfintech.com).
  • · Letter was sent as per Regulation 36(1)(b) of SEBI (LODR) Regulations, 2015 to members who have not registered their email addresses with the Company/RTA/Depositories.
Technojet Consultants Ltd. Corporate Governance neutral materiality 1/10

27-05-2026

Technojet Consultants Ltd. dispatched letters to members without registered email addresses, providing a web-link to access the Annual Report for FY 2025-26 and notice of the 44th Annual General Meeting scheduled for June 19, 2026. The filing is a routine corporate governance compliance update with no financial data disclosed.

  • · 44th Annual General Meeting scheduled for June 19, 2026 at 11:30 AM IST at the registered office.
  • · Annual Report for FY 2025-26 available via web-link: https://www.technojet.in/financial-information.htm
  • · Members without registered email addresses are requested to update them as per the AGM notice.
Apeejay Surrendra Park Hotels Limited Corporate Action mixed materiality 7/10

27-05-2026

Apeejay Surrendra Park Hotels Limited reported audited consolidated financial results for Q4 and FY ended March 31, 2026. For the full year, revenue from operations grew to ₹707.28 Cr from ₹631.45 Cr in FY25, while profit before finance costs, depreciation and amortization increased to ₹223.74 Cr from ₹190.55 Cr. However, the company's six subsidiaries posted a combined net loss of ₹8.49 Cr for the year, and the Board recommended a final dividend of Re. 0.75 per share for FY26.

  • · The Board meeting commenced at 06:45 P.M. and concluded at 11:00 P.M. on May 26, 2026.
  • · The auditor's report includes an unmodified opinion on the consolidated financial results.
  • · The final dividend of Re. 0.75 per share is subject to shareholder approval at the AGM and will be paid within 30 days of the AGM.
  • · The company's standalone financial results were also approved by the Board.
  • · The results for the quarter ended March 31, 2026 are balancing figures between audited full-year figures and unaudited nine-month figures.
KRN Heat Exchanger and Refrigeration Limited Analyst/Investor Meet neutral materiality 1/10

27-05-2026

KRN Heat Exchanger and Refrigeration Limited has informed the stock exchanges that its officials will hold a one-on-one physical meeting with Wasatch Global on May 30, 2026. The company stated that no unpublished price sensitive information (UPSI) is intended to be discussed during the interaction.

  • · Meeting mode: Physical
  • · Meeting time: 10:00 AM IST onwards
  • · The schedule is subject to change due to exigencies on the part of the analysts/investors or the company.
GTT DATA SOLUTIONS LIMITED Corporate Governance negative materiality 9/10

27-05-2026

GTT Data Solutions Limited reported a standalone net loss of ₹1,989.65 Lakh for Q4 FY26, a sharp decline from a profit of ₹45.67 Lakh in Q3 FY26 and a loss of ₹453.99 Lakh in Q4 FY25. For the full year FY26, the net loss widened to ₹2,564.14 Lakh from ₹868.22 Lakh in FY25, driven by a surge in other expenses to ₹1,828.53 Lakh in Q4 alone. The Board also approved the conversion of inter-corporate deposits into equity to strengthen the capital structure, and made key leadership changes including Mr. Ganesh Natarajan transitioning from Executive Chairman to Non-Executive Chairman effective July 1, 2026.

  • · The Board approved conversion of outstanding Inter-Corporate Deposits from SMCV Management Services Private Limited and other promoters into equity shares to strengthen capital structure and optimize debt.
  • · Mr. Ganesh Natarajan's designation changes from Whole-time Director (Executive Director) to Non-Executive Non-Independent Director and Non-Executive Chairman effective July 1, 2026.
  • · Mr. Sai Manik Sud was appointed as an Additional Non-Executive Independent Director with effect from May 26, 2026.
  • · The auditor's report includes an Emphasis of Matter regarding the proposed acquisition of 100% equity of Antworks Solutions India Private Limited via share swap, which has not been accounted for as an investment pending approvals.
  • · Non-current investments surged to ₹7,590.22 Lakh as at March 31, 2026 from ₹2,116.19 Lakh a year ago, a 258.7% increase.
  • · Cash and cash equivalents dropped sharply to ₹1.92 Lakh as at March 31, 2026 from ₹85.12 Lakh as at March 31, 2025.
  • · Trade receivables increased to ₹761.35 Lakh as at March 31, 2026 from ₹33.26 Lakh as at March 31, 2025.
  • · Basic EPS for Q4 FY26 was -₹5.19 vs -₹2.40 in Q4 FY25; diluted EPS for FY26 was -₹4.58 vs -₹2.27 in FY25.
Shiva Texyarn Limited Corporate Governance mixed materiality 7/10

27-05-2026

Shiva Texyarn Limited reported its audited standalone and consolidated financial results for the year ended March 31, 2026. Standalone revenue from operations increased 5.5% YoY to ₹34,052.40 Lakhs, while profit before tax rose 8.5% to ₹1,299.61 Lakhs. However, the company's total expenses grew at a faster pace (5.5% YoY), and the board recommended a dividend of ₹0.60 per share (6% of face value), down from the previous year's ₹3 per share. Additionally, two senior management appointments were made, and the company plans to amend its Memorandum and Articles of Association.

  • · The board recommended a dividend of ₹0.60 per share (6% of face value) for FY 2025-26, down from ₹3 per share in the prior year.
  • · Standalone profit before tax declined 3.6% YoY to ₹1,299.61 Lakhs despite a 5.5% increase in revenue, as total expenses grew at the same rate (5.5%).
  • · Standalone total assets decreased 11.1% YoY to ₹26,990.02 Lakhs, while total equity increased 6.7% to ₹14,417.73 Lakhs.
  • · Cash and cash equivalents surged 633% YoY to ₹693.43 Lakhs from ₹94.61 Lakhs.
  • · The statutory auditors issued an unmodified (clean) audit opinion on the standalone financial results.
  • · Two senior management appointments were made: M Gopalakrishnan as COO (Lamination Division) and G K Raman as President - Strategic Affairs, both effective May 27, 2026.
  • · M Nagarajan was appointed as Cost Auditor for FY 2026-27, subject to shareholder ratification.
  • · The company plans to amend its Memorandum of Association (object clause) and adopt a new set of Articles of Association, subject to shareholder approval at the AGM.
PCS Technology Ltd. Corporate Governance neutral materiality 5/10

27-05-2026

PCS Technology Ltd. announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, as approved by the Board on May 27, 2026. The Board also appointed Patil Gaikwad & Associates as internal auditors for FY 2026-27. The auditor's report provides an unmodified opinion on both standalone and consolidated financial results, indicating no material misstatements.

  • · Board meeting commenced at 1:15 PM and concluded at 1:45 PM on May 27, 2026.
  • · Patil Gaikwad & Associates appointed as internal auditors for FY 2026-27 with no disclosed relationships with directors.
  • · Auditor's report issued by Vinod K Mehta & Co. (Firm Registration No. 111508W) with an unmodified opinion on both standalone and consolidated financial results.
  • · Standalone and consolidated financial results prepared in accordance with Ind AS and Regulation 33 of SEBI Listing Regulations.
  • · No specific financial figures (revenue, profit, etc.) were disclosed in the filing.
AJC Jewel Manufacturers Limited Corporate Governance mixed materiality 8/10

27-05-2026

AJC Jewel Manufacturers Limited reported audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026. Standalone revenue for the quarter ended March 31, 2026 was ₹8,411.22 Lakh, up from ₹8,846.40 Lakh in the previous quarter (December 31, 2025), while standalone profit after tax for the quarter was ₹196.18 Lakh, down from ₹345.31 Lakh in the prior quarter. For the full year, standalone revenue grew to ₹22,046.35 Lakh from ₹29,174.87 Lakh in FY2025, and profit after tax increased to ₹801.37 Lakh from ₹386.31 Lakh. The company completed its IPO during the year, raising ₹15.39 Crore, and also acquired 88% of Esthara Jewels Private Limited. However, the company paid fines of ₹3.48 Lakh and ₹0.12 Lakh for delayed submission of financial results and delayed board meeting intimation respectively.

  • · The company acquired 88% of shares in Esthara Jewels Private Limited during the period.
  • · Standalone total assets decreased from ₹4,935.16 Lakh (Mar 2025) to ₹3,421.53 Lakh (Mar 2026).
  • · Standalone short-term borrowings increased from ₹3,131.14 Lakh to ₹4,325.56 Lakh.
  • · Standalone trade receivables increased from ₹1,782.86 Lakh to ₹4,060.93 Lakh.
  • · Standalone inventories increased from ₹2,227.01 Lakh to ₹2,399.51 Lakh.
  • · Standalone cash and cash equivalents increased from ₹71.76 Lakh to ₹136.15 Lakh.
  • · Consolidated total assets as at March 31, 2026 were ₹8,443.61 Lakh (comparative not available).
  • · Fines of ₹3.48 Lakh and ₹0.12 Lakh were paid for regulatory non-compliance.
Asahi India Glass Limited Corporate Action mixed materiality 8/10

27-05-2026

Asahi India Glass Limited's board approved audited standalone financial results for Q4 and FY ended March 31, 2026. For FY26, total income rose 8.5% to ₹4,71,978 Lakh (vs ₹4,34,782 Lakh in FY25), but net profit declined 15.2% to ₹32,994 Lakh from ₹38,910 Lakh, impacted by exceptional items of ₹654 Lakh related to new labour code provisions. The board recommended a dividend of ₹2 per equity share (face value ₹1) for FY26, subject to shareholder approval.

  • · Auditor's report is unmodified (unqualified opinion) for both standalone and consolidated results.
  • · Exceptional item of ₹654 Lakh relates to past service cost charge under new labour codes – regulatory, non-recurring.
  • · Merger of four subsidiaries into AIS Glass Solutions Limited (now AIS Consumer Glass Solutions Limited) became effective July 1, 2025; impact of merger and capital reduction included in standalone financials.
  • · FY26 EPS (basic) declined to ₹13.23 from ₹16.01 in FY25, a drop of 17.4%.
  • · Q4 FY26 net profit of ₹12,591 Lakh was up 22% sequentially from Q3 FY26 (₹10,320 Lakh) but the quarterly figures are balancing figures between full-year audited and nine-month unaudited results.
  • · Dividend recommended at ₹2 per share (face value ₹1) for FY26, same as the previous year’s dividend amount (though prior year amount not explicitly stated in this filing).
PCS Technology Ltd. Corporate Governance neutral materiality 5/10

27-05-2026

PCS Technology Ltd. announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, as approved by the Board on May 27, 2026. The Board also approved the appointment of Patil Gaikwad & Associates as the company's internal auditors for the fiscal year 2026-27. The audit reports from Vinod K Mehta & Co. provide unmodified opinions on both the standalone and consolidated financial results, indicating no material misstatements were identified.

  • · The Board meeting commenced at 1:15 PM and concluded at 1:45 PM on May 27, 2026.
  • · Patil Gaikwad & Associates was appointed as Internal Auditors for the financial year 2026-27, effective from the Board meeting date.
  • · The statutory auditor, Vinod K Mehta & Co., issued an unmodified (clean) audit opinion for both the standalone and consolidated financial results.
  • · The company confirmed compliance with SEBI Listing Regulations (Regulations 30 and 33) for the submission.
  • · No relationships between directors and the newly appointed internal auditor were disclosed.
Asahi India Glass Limited Corporate Action mixed materiality 8/10

27-05-2026

Asahi India Glass Limited reported standalone revenue from operations of ₹467,624 Lakh for FY2026, up 8.5% from ₹431,161 Lakh in FY2025. However, net profit declined 15.2% to ₹32,994 Lakh from ₹38,910 Lakh, impacted by higher depreciation, finance costs, and an exceptional charge of ₹654 Lakh related to new labour codes. The Board recommended a dividend of ₹2 per share (face value ₹1) for FY2026, subject to shareholder approval.

  • · Auditor's report contains unmodified opinion for both standalone and consolidated financial results.
  • · Exceptional item of ₹654 Lakh relates to past service cost charge under the New Labour Codes, classified as non-recurring.
  • · A Composite Scheme of Arrangement for amalgamation of four subsidiaries into AIS Glass Solutions Limited (now AIS Consumer Glass Solutions Limited) became effective from July 1, 2025, along with capital reduction.
  • · Quarterly revenue for Q4 FY2026 stood at ₹127,300 Lakh (vs ₹110,601 Lakh in Q4 FY2025, up 15.1%), while net profit for Q4 FY2026 was ₹12,591 Lakh (vs ₹9,138 Lakh in Q4 FY2025, up 37.8%).
  • · Depreciation & amortisation expense increased significantly from ₹17,250 Lakh in FY2025 to ₹26,331 Lakh in FY2026 (up 52.6%).
  • · Finance cost rose from ₹12,230 Lakh in FY2025 to ₹19,806 Lakh in FY2026 (up 62.0%).
Goldiam International Limited Corporate Action positive materiality 8/10

27-05-2026

Goldiam International Limited announced its audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The Board also approved a 1:3 bonus share issuance (1 bonus equity share of ₹2 each for every 3 existing shares), subject to shareholder approval, and reappointed J. H. Shah & Associates as internal auditors for FY 2026-27. The filing does not include specific financial performance figures, so no period-over-period comparisons are available.

  • · Audit reports submitted with unmodified opinion (free from any disqualifications).
  • · Bonus shares will be issued out of Capital Redemption Reserves (CRR) and/or Securities Premium Account and/or Free Reserves and/or retained earnings as at March 31, 2026.
  • · Record date for bonus issue to be informed later; bonus shares to be credited/dispatched by July 25, 2026.
  • · Postal ballot notice approved; M/s. R. N. Shah & Associates appointed as scrutinizer for e-voting.
  • · Internal auditor J. H. Shah & Associates reappointed for FY 2026-27.
Ramco Industries Limited Corporate Governance mixed materiality 8/10

27-05-2026

Ramco Industries reported a strong standalone net profit of ₹111.26 Cr for FY2025-26, up 25.9% from ₹88.36 Cr in the prior year, driven by a 2.9% revenue increase to ₹1,443.50 Cr. However, the Building Products segment showed a 7.0% decline in quarterly revenue (Q4 FY26 vs Q4 FY25), and the Textiles segment revenue fell 18.5% for the full year. The Board recommended a dividend of ₹1.25 per share and proposed the reappointment of Shri Ajay Bhaskar Baliga as Independent Director for a second term.

  • · The Board meeting commenced at 11:30 AM and concluded at 2:00 PM on 27.05.2026.
  • · The 61st Annual General Meeting is scheduled for 20th August 2026 via Video Conferencing.
  • · Dividend of ₹1.25 per share (face value ₹1) will be paid within 30 days of AGM declaration.
  • · Auditors issued unmodified opinions on both standalone and consolidated annual financial results.
  • · Exceptional items in FY2025-26 include a profit of ₹0.23 Cr on sale of unquoted investments (Q2) and reversal of ₹7.86 Cr provision for Entry Tax payable (Q4) following settlement under SOD scheme.
  • · Debt service coverage ratio improved to 3.03 times for FY2025-26 from 5.62 times in FY2024-25.
  • · Interest service coverage ratio improved to 10.82 times for FY2025-26 from 9.85 times in FY2024-25.
  • · Inventory turnover (days) improved to 135 days for FY2025-26 from 141 days in FY2024-25.
  • · Debtors turnover (days) improved to 24 days for FY2025-26 from 22 days in FY2024-25.
  • · Net worth (excluding revaluation reserve) stood at ₹1,344.89 Cr as at 31.03.2026 vs ₹1,254.41 Cr as at 31.03.2025.
  • · Total debt to total assets ratio improved to 0.10 times as at 31.03.2026 from 0.15 times as at 31.03.2025.
  • · Cash and cash equivalents increased to ₹21.52 Cr as at 31.03.2026 from ₹3.87 Cr as at 31.03.2025.
  • · Long-term borrowings reduced to ₹41.12 Cr as at 31.03.2026 from ₹75.39 Cr as at 31.03.2025.
  • · Short-term borrowings reduced to ₹128.08 Cr as at 31.03.2026 from ₹180.31 Cr as at 31.03.2025.
HEG Limited Corporate Governance neutral materiality 5/10

27-05-2026

HEG Limited has communicated to shareholders regarding the deduction of tax at source (TDS) on the recommended final dividend of ₹3.40 per equity share (170% on face value of ₹2) for FY 2025-26, subject to shareholder approval at the 54th AGM. The company outlines detailed TDS rates and documentation requirements for resident and non-resident shareholders, with a submission deadline of June 19, 2026. While the dividend proposal reflects a positive return to shareholders, the complexity of compliance and potential higher withholding tax (up to 20% for non-linked PAN or 30% for certain non-residents) may pose administrative burdens.

  • · The final dividend of ₹3.40 per share (170%) was recommended by the Board on April 29, 2026, and is subject to shareholder approval at the 54th AGM.
  • · Dividend payment will be made within 30 days from the AGM date.
  • · Resident individual shareholders with total dividend in TY 2026-27 not exceeding ₹10,000 are exempt from TDS.
  • · TDS rate for resident shareholders with valid PAN is 10%; without valid PAN or non-linked PAN-Aadhaar, the rate is 20%.
  • · Non-resident shareholders (FIIs/FPIs, other non-residents) face a TDS rate of 20% (plus surcharge and cess) under Section 393(2), with potential lower treaty rates subject to documentation.
  • · Non-resident shareholders from Notified Jurisdictional Areas are subject to 30% TDS (plus surcharge and cess).
  • · Sovereign wealth funds and pension funds notified by the Central Government are eligible for nil TDS.
  • · All required tax documents must be submitted by June 19, 2026, to tdsfdiv170@lnjbhilwara.com.
  • · Shareholders with joint holdings must have the first-named holder furnish documents; separate TDS credit requires a declaration under Rule 203 of Income-tax Rules, 2026.
Shiva Texyarn Limited Corporate Governance mixed materiality 7/10

27-05-2026

Shiva Texyarn Limited reported its audited standalone and consolidated financial results for the year ended March 31, 2026. Standalone revenue from operations grew 5.5% YoY to ₹34,052.40 lakh, while net profit after tax increased 14.8% to ₹1,221.08 lakh. However, the fourth quarter (Q4 FY26) standalone revenue declined 9.5% sequentially to ₹8,287.07 lakh from ₹9,157.89 lakh in Q3 FY26, indicating a slowdown in the latest quarter. The Board recommended a dividend of ₹0.60 per share (6% of face value ₹10) for FY26, and elevated two senior management personnel.

  • · Auditors (V K S Aiyer & Co.) issued an unmodified opinion on the standalone annual financial results.
  • · Standalone total expenses for FY26 were ₹33,271.14 lakh, up 5.5% from ₹31,550.22 lakh in FY25.
  • · Standalone finance costs for FY26 were ₹1,176.56 lakh, slightly down from ₹1,185.22 lakh in FY25.
  • · Standalone earnings per share (not annualised) for FY26 was not explicitly stated in the filing.
  • · The Board approved the appointment of M Nagarajan as Cost Auditor for FY27, subject to shareholder ratification.
  • · The meeting commenced at 11:30 AM and concluded at 1:30 PM on May 27, 2026.
Emami Realty Limited Corporate Governance mixed materiality 7/10

27-05-2026

Emami Realty Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, and appointed Mr. Ram Krishna Agarwal as an Additional Non-Executive Director effective July 1, 2026. The auditor's report includes an emphasis of matter regarding a 10% partnership investment in Lohitka Properties LLP, Mumbai, whose accounts are not yet finalized, creating uncertainty about the investment's profitability. The board also reconstituted several committees effective July 22, 2026, with Mr. Agarwal joining the Nomination & Remuneration Committee, CSR Committee, and chairing the Finance Committee.

  • · The Board meeting was held on May 27, 2026, at Acropolis, 13th Floor, 1858/1, Rajdanga Main Road, Kasba, Kolkata - 700107, commenced at 11:45 AM and concluded at 2:00 PM.
  • · Audited financial results were prepared in compliance with Indian Accounting Standard 34 (Interim Financial Reporting) and Regulation 33 of SEBI Listing Regulations.
  • · Mr. Ram Krishna Agarwal is a qualified Chartered Accountant with over 50 years of experience, former Managing Partner of S. R. Batliboi & Co. (EY member firm), and has held leadership positions at Ernst & Young India and CII (Eastern Region Chairman 2012-13).
  • · The auditor's report notes an emphasis of matter: the company is a 10% partner in Lohitka Properties LLP (Mumbai), whose accounts are not yet finalized and thus no effect of profitability has been considered in the company's accounts.
  • · Board committees were reconstituted effective July 22, 2026, with Mr. Ram Krishna Agarwal joining the Nomination & Remuneration Committee, CSR Committee, and chairing the Finance Committee.
  • · The filing confirms Mr. Ram Krishna Agarwal is not debarred from holding director office by any SEBI order or other authority.
Cummins India Limited Corporate Governance mixed materiality 8/10

27-05-2026

Cummins India Limited reported audited consolidated financial results for the quarter and year ended March 31, 2026. Consolidated revenue from operations for the year grew 16.9% to ₹11,949.73 Crore, while profit after tax increased 18.1% to ₹2,361.75 Crore. However, the quarter ended March 31, 2026 showed a sequential decline in revenue from operations (₹2,963.20 Crore vs ₹3,006.24 Crore in Q3 FY25) and a mixed performance in other income. The Board recommended a final dividend of ₹46 per share (2,300%) for FY2025-26, in addition to the interim dividend of ₹20 per share, and approved the re-appointment of statutory and cost auditors.

  • · The Board approved re-appointment of M/s. Price Waterhouse & Co Chartered Accountants LLP as Statutory Auditors for a second term of 5 consecutive years from the 65th AGM to the 70th AGM (year 2031), subject to member approval.
  • · M/s. Joshi Apte & Associates appointed as Cost Auditors for FY 2026-27, remuneration subject to ratification at the AGM.
  • · Record date for final dividend eligibility fixed as Friday, July 17, 2026.
  • · The 65th AGM will be held on Thursday, August 06, 2026 via Video Conferencing / Other Audio-Visual Means.
  • · M/s. Mehta & Mehta appointed as Scrutinizer for e-voting process.
  • · Statutory auditors issued unmodified opinion on annual financial results for FY ended March 31, 2026.
  • · Exceptional items for the year ended March 31, 2026 include a gain on sale of subsidiary of ₹44.15 Crore (standalone) and impact of labour codes of ₹32.34 Crore (consolidated).
TVS Srichakra Limited Corporate Governance positive materiality 8/10

27-05-2026

TVS Srichakra Limited reported strong standalone financial results for Q4 and FY2025-26, with revenue from operations rising 21.3% YoY to ₹912.52 Cr in Q4 and 12.1% YoY to ₹3,389.66 Cr for the full year. Net profit surged 226.9% YoY to ₹34.62 Cr in Q4 and 123.8% YoY to ₹82.71 Cr for FY26. However, the company recognized exceptional items including a ₹10.61 Cr past-service cost from new Labour Codes and a ₹5.36 Cr voluntary retirement scheme cost, partially offset by an ₹18.81 Cr government grant. The Board recommended a final dividend of ₹37.80 per share (378% on face value of ₹10).

  • · Statutory auditors issued an unmodified opinion on standalone and consolidated financial results for FY26.
  • · Total comprehensive income for FY26 was ₹40.29 Cr, down from ₹125.21 Cr in FY25, primarily due to a large other comprehensive income loss in FY26.
  • · Exceptional items net loss for FY26 was ₹2.92 Cr, compared to a net gain of ₹11.40 Cr in FY25.
  • · Finance costs decreased to ₹46.45 Cr in FY26 from ₹49.17 Cr in FY25, a decline of 5.5%.
  • · Total borrowings (non-current + current) stood at ₹701.73 Cr as of March 31, 2026, down from ₹812.19 Cr a year ago.
  • · Trade receivables increased to ₹364.57 Cr from ₹298.23 Cr, a rise of 22.2%.
  • · Inventories decreased to ₹658.14 Cr from ₹717.88 Cr, a decline of 8.3%.
  • · The company has a single reportable business segment: Automotive Tyres, Tubes and Flaps.
  • · The Board meeting commenced at 11:45 AM and concluded at 1:58 PM on May 27, 2026.
Crizac Limited Analyst/Investor Meet mixed materiality 8/10

27-05-2026

Crizac Limited reported strong Q4 FY26 and full-year FY26 results, with revenue from operations growing 22.7% YoY to ₹10,422 million for the year and 15% YoY to ₹3,917 million for Q4. EBITDA for FY26 grew 31% YoY to ₹2,824 million with margin expansion of 172 bps to 27%, while PAT grew 41% YoY to ₹2,191 million. However, the company faces headwinds from tightening visa policies in Canada and the US and currency FX dynamics, though management believes structural demand for international education remains robust and the company is well-positioned due to its multi-geography sourcing model and strong institutional relationships.

  • · Top 10 university partners account for 66% of revenue.
  • · Net cash position of ₹4,674 million as of March 31, 2026, with zero debt.
  • · Dividend declared of ₹8 per share, representing a payout of approximately 64%.
  • · One-time termination fee payment of INR 55 crore impacted cash conversion.
  • · Inorganic pipeline remains active with continued evaluation of opportunities.
  • · Company did not provide firm guidance for FY27 due to evolving global environment.
Mrs. Bectors Food Specialities Limited Corporate Governance neutral materiality 6/10

27-05-2026

Mrs. Bectors Food Specialities Limited announced its audited consolidated and standalone financial results for the quarter and year ended March 31, 2026, with an unmodified audit opinion from Walker Chandiok & Co LLP. The Board recommended a final dividend of ₹0.70 per equity share (35% of face value ₹2) for FY2025-26, subject to shareholder approval. Additionally, the Board appointed KPMG Assurance and Consulting Services LLP as internal auditors for FY2026-27.

  • · The Board meeting commenced at 10:30 Hrs IST and concluded at 13:30 Hrs IST on May 27, 2026.
  • · The auditor's report includes an unmodified opinion on the consolidated annual financial results.
  • · Two subsidiaries (one outside India) were audited by other auditors; their combined total assets were ₹248.02 million, total revenues ₹146.55 million, and total net loss after tax ₹13.35 million for the year ended March 31, 2026.
  • · The Group's share of net profit after tax from one associate was ₹0.03 million for the year ended March 31, 2026.
Ramco Industries Limited Corporate Action mixed materiality 8/10

27-05-2026

Ramco Industries reported audited standalone results for Q4 and FY ended March 31, 2026. Net profit for the quarter surged 95% YoY to ₹26.16 Cr, while full-year net profit rose 26% to ₹111.26 Cr. Revenue from operations grew 15% YoY in Q4 to ₹397.21 Cr and 3% YoY for the full year to ₹1,443.50 Cr. However, the Textiles segment revenue declined 25% YoY for the full year to ₹193.46 Cr, and Other Comprehensive Income recorded a significant loss of ₹24.60 Cr in Q4, dragging total comprehensive income for the quarter to just ₹1.56 Cr. The Board recommended a dividend of ₹1.25 per share and proposed reappointment of Independent Director Shri Ajay Bhaskar Baliga for a second term.

  • · Exceptional items for FY26 include a profit of ₹0.23 Cr from sale of unquoted investments (Q2) and reversal of Entry Tax provision of ₹7.86 Cr (Q4) following settlement under SOD Scheme.
  • · Other Comprehensive Income (loss) for Q4 FY26 was ₹(24.60) Cr, primarily due to actuarial losses on defined benefit obligations.
  • · Debt-to-Equity ratio improved to 0.13 from 0.20 a year ago, and Current Ratio improved to 2.15 from 1.79.
  • · Operating margin for FY26 improved to 10% from 8%, and Net Profit Margin improved to 7.4% from 6.1%.
  • · Inventory turnover days improved to 135 days from 141 days (annualized), while debtor turnover days increased slightly to 24 days from 22 days.
  • · The Board approved reappointment of Shri Ajay Bhaskar Baliga as Independent Director for a second term from July 27, 2026 to July 26, 2031, subject to shareholder approval via postal ballot.
  • · The 61st Annual General Meeting is scheduled for August 20, 2026 via video conferencing.
  • · Audit reports for standalone and consolidated results carry an unmodified opinion.
TV Vision Limited Corporate Governance negative materiality 9/10

27-05-2026

TV Vision Limited reported a standalone net loss of ₹3,447.21 Cr for FY26, widening from a loss of ₹2,668.71 Cr in FY25, with total income declining 3.5% to ₹5,456.96 Cr. The company faces a qualified audit opinion due to a NCLT petition filed by Punjab National Bank under IBC, and its net worth is deeply negative at ₹14,425.49 Cr (standalone).

  • · Standalone EPS for FY26 was (₹2.02) basic and diluted, compared to (₹6.89) in FY25.
  • · Standalone total expenses for FY26 were ₹8,925.67 Lakhs, up from ₹8,256.67 Lakhs in FY25.
  • · Standalone finance cost for FY26 was ₹34.23 Lakhs, down from ₹61.15 Lakhs in FY25.
  • · Standalone depreciation for FY26 was ₹1,474.17 Lakhs, nearly flat vs ₹1,481.34 Lakhs in FY25.
  • · Standalone trade receivables dropped to ₹0.00 Lakhs as at March 31, 2026 from ₹980.92 Lakhs a year ago.
  • · Standalone cash flow from operations was positive ₹375.38 Lakhs in FY26 vs negative ₹49.56 Lakhs in FY25.
  • · The company's accounts have been classified as non-performing asset by banks, and no interest provision has been made.
  • · A petition under IBC has been filed by Punjab National Bank before NCLT, Mumbai Bench; impact is unascertainable.
Ramco Industries Limited Corporate Action neutral materiality 3/10

27-05-2026

Ramco Industries Limited has informed stock exchanges that the Record Date for determining shareholder eligibility to vote at the Annual General Meeting (AGM) and receive the dividend for FY 2025-26 is August 13, 2026. The AGM is scheduled for August 20, 2026. No financial figures or performance metrics are disclosed in this filing.

  • · Record Date: August 13, 2026
  • · AGM Date: August 20, 2026
  • · Purpose: Determine eligibility for e-voting at AGM and to receive dividend for FY 2025-26
  • · Scrip Codes: NSE – RAMCOIND EQ, BSE – 532369
Gabion Technologies India Ltd Analyst/Investor Meet mixed materiality 8/10

27-05-2026

Gabion Technologies India Ltd reported FY26 total income of INR115.58 crore, up 14.15% YoY, with net profit rising 31.04% to INR8.11 crore. H2 FY26 performance was stronger, with total income of INR74.87 crore (+29.44% YoY) and net profit of INR5.69 crore (+62.53%). However, the full-year growth fell short of the earlier 20%-25% guidance due to ~INR15 crore of work-in-progress that could not be billed. The company targets a 40%-45% revenue jump to INR200 crore in FY27, driven by capacity doubling to 18,000 metric tons by September 2026, and expects margins to improve by 1-2 percentage points.

  • · Revenue mix: ~54% from product sales (external), ~46% from service/project execution.
  • · Order book of INR200 crore is split 50% product and 50% project.
  • · Company has booked INR44 crore in new orders in the current financial year (as of May 2026).
  • · Total capex since last year is approximately INR8 crore, of which only INR1 crore is from IPO proceeds.
  • · Production capacity currently at 12,000 metric tons, set to increase to 18,000 metric tons by September 2026.
  • · Company holds an estimated 20%-25% market share in the gabion industry.
  • · Key competitors include Secure Matrix (Maharashtra) and Techfire.
  • · The company's water-related business focuses on flood protection and river training projects (e.g., Manipur).
Automotive Axles Limited Corporate Governance neutral materiality 4/10

27-05-2026

Automotive Axles Limited issued notices to shareholders regarding proposed transfer of unclaimed dividends and corresponding shares to the Investor Education and Protection Fund (IEPF) for dividends that have remained unpaid/unclaimed for seven consecutive years, specifically from FY2018-19 onward. Shareholders have until August 31, 2026 to claim dividends and avoid compulsory transfer of shares to the IEPF. This regulatory compliance notice covers dividends from FY2018-19 through FY2024-25, but does not disclose the aggregate amount or number of shares affected, making it difficult to assess materiality.

  • · The transfer applies to shares and dividends that have remained unclaimed for seven consecutive years, starting with FY2018-19 final dividend.
  • · The notice lists unclaimed dividends for eight financial years: FY2018-19 Final, FY2019-20 Interim, FY2019-20 Final, FY2020-21 Final, FY2021-22 Final, FY2022-23 Final, FY2023-24 Final, and FY2024-25 Final.
  • · The notice is a routine regulatory compliance filing under Regulation 30 of SEBI LODR and Section 124(6) of the Companies Act, 2013.
M.M. Rubber Company Ltd. Corporate Governance neutral materiality 5/10

27-05-2026

The Board of Directors of M.M. Rubber Company Limited met on 27 May 2026 (11:00 AM–02:00 PM) and approved the Standalone Audited Financial Results for the quarter and year ended 31/03/2026 along with the statement of Assets & Liabilities; the Statutory Auditor's Report (unmodified opinion) was received. The Board also appointed M/s S.R. Mandre and Co., Chartered Accountants as Internal Auditors for Financial Year 2026-27. No monetary figures were disclosed in this filing.

  • · Board approved Standalone Audited Financial Results for the quarter and year ended 31/03/2026 and the accompanying statement of Assets and Liabilities.
  • · Statutory Auditor (M/s. Narayan Bhat & Co, FRN-005011S) issued an Audit Report with an unmodified opinion on the Standalone Audited Financial Results for year ended 31/03/2026 (declaration by CFO).
  • · Appointment of Internal Auditors: M/s S.R. Mandre and Co., Chartered Accountants for the Financial Year 2026-27.
  • · Board meeting timings: commenced at 11:00 AM and concluded at 02:00 PM on 27.05.2026.
  • · Scrip Code referenced: 509196.
TVS Srichakra Limited Corporate Action mixed materiality 8/10

27-05-2026

TVS Srichakra Limited reported a strong financial performance for FY26, with standalone revenue from operations rising 12.1% YoY to ₹3,389.66 Cr and net profit more than doubling to ₹82.71 Cr. The Board recommended a final dividend of ₹37.80 per share (378%). However, the company faced headwinds including a ₹10.61 Cr exceptional charge from the first-time application of new Labour Codes and a ₹5.36 Cr voluntary retirement scheme cost, partially offset by a ₹18.81 Cr government grant recognized as exceptional income.

  • · The Board meeting commenced at 11:45 AM and concluded at 1:58 PM on May 27, 2026.
  • · The statutory auditors issued an unmodified (clean) opinion on both standalone and consolidated financial results.
  • · Exceptional items for FY26 included a net credit of ₹18.81 Cr from SIPCOT grant, a ₹5.36 Cr VRS cost, a ₹10.61 Cr past-service cost from Labour Codes, and a ₹0.89 Cr charge in Q4 related to the same.
  • · Total comprehensive income for FY26 was ₹40.29 Cr, down from ₹125.21 Cr in FY25, primarily due to negative other comprehensive income of ₹42.42 Cr (vs positive ₹88.25 Cr in FY25).
  • · Total borrowings (non-current + current) decreased from ₹812.19 Cr as of March 31, 2025 to ₹701.73 Cr as of March 31, 2026.
  • · The company's standalone net profit for FY26 of ₹82.71 Cr was more than double the ₹36.96 Cr in FY25, but the prior year included a one-time other comprehensive income gain of ₹88.25 Cr.
  • · The final dividend of ₹37.80 per share is subject to shareholder approval at the Annual General Meeting and will be paid within 30 days of approval.
Ramco Industries Limited Corporate Governance neutral materiality 5/10

27-05-2026

Ramco Industries Limited announced an increase in the project cost for its new fibre cement board plant in Maksi, Madhya Pradesh, from ₹180 Crore to ₹250 Crore (gross value), as approved by the Board on May 27, 2026. The plant's installed capacity remains unchanged at 58,000 M.T. per annum. No other details of the project have been modified.

  • · The original project cost approval was communicated via letter No.BM/Q2/2025-26 dated November 5, 2025.
  • · The board meeting commenced at 11:30 a.m. and concluded at 2:00 p.m. on May 27, 2026.
  • · No other details of the project (capacity, location, etc.) have changed from the earlier disclosure.
Alfred Herbert (India) Ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Alfred Herbert (India) Ltd. reported audited standalone financial results for the year ended March 31, 2026, with total comprehensive income of ₹45,065.38 Lakhs (₹450.65 Cr), a significant turnaround from a loss of ₹63.29 Lakhs in FY2025. The Board recommended a dividend of ₹20.00 per equity share (200% of face value ₹10) for FY2026. However, the quarterly performance showed a sharp decline: standalone profit for Q4 FY2026 was ₹309.05 Lakhs, down 77.8% from ₹1,393.07 Lakhs in Q3 FY2026, and the company's cash and cash equivalents dropped from ₹391 Lakhs to ₹114.79 Lakhs.

  • · The Board meeting commenced at 11:30 AM and ended at 2:15 PM on May 27, 2026.
  • · Statutory auditors issued an unmodified (clean) opinion on both standalone and consolidated financial results.
  • · Mrs. Simika Lodha, Non-Executive Non-Independent Director, retires by rotation at the upcoming 106th Annual General Meeting and is eligible for reappointment.
  • · Standalone revenue from operations for FY2026 was ₹1,473.37 Lakhs, up 43.7% from ₹1,024.99 Lakhs in FY2025.
  • · Standalone profit before tax for FY2026 was ₹52,086.51 Lakhs, including exceptional items of ₹48,047.16 Lakhs in the prior year (FY2025).
  • · Total assets increased to ₹56,937.55 Lakhs as at March 31, 2026 from ₹11,512.42 Lakhs a year earlier, driven largely by a surge in investments.
  • · Other equity (reserves) stood at ₹10,815.29 Lakhs as at March 31, 2026 (no prior year figure provided in the snippet).
  • · Earnings per share (basic) for FY2026 was ₹5,900.20, compared to ₹80.76 in FY2025.
Mathew Easow Research Securities Lt Corporate Governance neutral materiality 5/10

27-05-2026

Mathew Easow Research Securities Ltd. announced its standalone audited financial results for the quarter and year ended March 31, 2026, with an unmodified audit opinion from GGPS And Associates. The board also approved the appointment of Ms. Sarika Kedia as an Additional Non-Executive Independent Director for five years, while Mr. Jitendra Kumar Bhagat resigned as Non-Executive Independent Director due to personal commitments. Various board committees were reconstituted effective May 27, 2026.

  • · The audit report covers the standalone annual financial results for the year ended March 31, 2026, with an unmodified opinion.
  • · Ms. Sarika Kedia is a Practising Company Secretary with over a decade of experience, including more than 8 years as CS of a listed company.
  • · Mr. Jitendra Kumar Bhagat resigned effective close of business on May 27, 2026, citing pressing personal commitments, with no other material reasons.
  • · The board reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee, all chaired by Ms. Sarika Kedia.
  • · The meeting started at 1:00 PM IST and concluded at 2:15 PM IST on May 27, 2026.
Transport Corporation of India Limited Analyst/Investor Meet mixed materiality 7/10

27-05-2026

Transport Corporation of India (TCI) reported consolidated revenue of ₹49,650 Mn for FY26, up 9.4% from ₹45,385 Mn in FY25, while consolidated EBITDA grew 8.8% to ₹5,974 Mn (FY25: ₹5,591 Mn). However, the Freight Division faced headwinds: FY26 revenue grew only 2.5% to ₹17,543 Mn and EBITDA declined 11% to ₹477 Mn, partly due to slump sale of a chemical business. The Supply Chain and Seaways divisions delivered stronger growth (14% and 5% revenue growth respectively), though Q4 FY26 was impacted by the Gulf crisis.

  • · 22,000+ clean fuel trips and 250+ reefer vehicles in operations.
  • · TCI achieved 23rd consecutive quarter of growth, though Q4 FY26 was impacted by the Gulf crisis in March.
  • · JVs revenue grew 21% YoY to ₹5,503 Mn (FY25: ₹4,556 Mn), with TCI Concor (49% stake), Transystem (51%), and TCI Cold Chain (20%) all contributing.
  • · CRISIL rating maintained at AA (Stable) and Dun & Bradstreet rating at 5A1.
  • · Stock coverage: 11 analysts, all with a 'Buy' rating.
  • · 3 ships were dry-docked during the period, 2 more scheduled in FY27.
  • · Cash surplus of ₹2,500 Mn with strong liquidity. Debt incl. leases at ₹2,518 Mn as on 31st Mar 2026.
  • · Freight Division LTL share of revenue declined from 65% in FY23 to 60% in FY26, while FTL share increased from 35% to 40% over the same period.
Keerthi Industries Ltd Corporate Governance mixed materiality 8/10

27-05-2026

Keerthi Industries reported a net loss of ₹175.96 Lakh for the quarter ended March 31, 2026, compared to a loss of ₹398.18 Lakh in the same quarter last year, an improvement of 55.8%. For the full fiscal year 2025-26, the net loss narrowed to ₹1,528.83 Lakh from ₹2,277.22 Lakh in FY2024-25, a 32.9% improvement. However, revenue from continuing operations declined 3.2% YoY to ₹9,359.11 Lakh, and the company's current liabilities exceeded current assets by ₹53.79 Crore, with delays in creditor payments. The company completed the slump sale of its Electronic Division for ₹3,600 Lakh, generating a gain of ₹821.89 Lakh, and continues to face operational challenges.

  • · The company's current liabilities exceed current assets by ₹53.79 Crore, with delays in payments to overdue creditors.
  • · The slump sale of the Electronic Division to Hyderabad Bottling Co. Pvt. Ltd. (a related party) was completed on March 31, 2026, for ₹3,600 Lakh, generating a gain of ₹821.89 Lakh.
  • · Land (Sugar Division) costing ₹497.59 Lakh is classified as held for sale, with the sale delayed beyond one year due to circumstances beyond the company's control.
  • · MAT Credit of ₹348.18 Lakh was derecognized, and deferred tax assets on unabsorbed tax losses were not recognized.
  • · The company received a one-time incentive of ₹100 Lakh from the Government of Telangana for a 132 KV transmission line.
  • · Unpaid/unclaimed dividend of ₹7,79,661 for FY2018-19 was transferred to the Investor Education and Protection Fund.
  • · The company's operations are now a single reportable segment (Cement Division) following the slump sale of the Electronic Division.
  • · The new labour codes (effective November 21, 2025) had no material financial impact on the results.
Paisalo Digital Limited Merger/Acquisition neutral materiality 4/10

27-05-2026

Sunil Purushottanm Agarwal, a promoter group member, acquired 12,81,000 equity shares (0.1408% of total voting capital) of Paisalo Digital Limited on May 27, 2026 via open market purchase. Post-acquisition, his total holding increased from 12.3354% to 12.4762% of the voting capital.

  • · Acquisition was made under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, Regulation 29(2).
  • · The acquirer is part of the promoter group.
  • · No encumbrances (pledge/lien) were involved in the transaction.
  • · The company's total equity share capital is ₹90,95,21,874 divided into 90,95,21,874 equity shares of Re. 1 each.
NHC FOODS LIMITED Corporate Governance neutral materiality 7/10

27-05-2026

NHC Foods Ltd has approved a US$ 27 million (approximately INR 258 Crore) issue of Foreign Currency Convertible Bonds (FCCBs) with a 1.5% coupon rate, issued at a 10% discount. The bonds are unsecured and will be credited to subscribers on or about May 29, 2026, with a tenure of 5 years maturing on May 28, 2031. The company has obtained in-principle approval from BSE and member consent via postal ballot, and the FCCBs are proposed to be listed on AFRINEX Exchange in Mauritius.

  • · FCCBs are unsecured and issued at a 10% discount to face value.
  • · The bonds have a tenure of 5 years (60 months) maturing on May 28, 2031.
  • · The issue opened on May 27, 2026, and the 'Relevant Date' for floor price determination is also May 27, 2026.
  • · Conversion rate (USD/INR) as per RBI as on May 25, 2025 is 95.2047 (provided as reference).
  • · The FCCBs are proposed to be listed on AFRINEX Exchange in Mauritius.
  • · Board meeting commenced at 1:00 pm and concluded at 2:15 pm on May 27, 2026.
  • · No defaults in payment of coupon on FCCBs have been reported.
Cummins India Limited Corporate Action mixed materiality 8/10

27-05-2026

Cummins India Limited reported audited consolidated financial results for Q4 and FY ended March 31, 2026. Consolidated revenue from operations grew 22.0% YoY to ₹11,949.73 Cr for FY26, while profit after tax increased 18.1% YoY to ₹2,361.75 Cr. However, Q4 FY26 revenue of ₹2,963.20 Cr was slightly down 1.4% sequentially from ₹3,006.24 Cr in Q3 FY26, and profit after tax of ₹649.46 Cr rose 33.6% QoQ. The Board recommended a final dividend of ₹46 per share (2,300%) for FY26, in addition to the interim dividend of ₹20 per share.

  • · Consolidated basic and diluted EPS for FY26: ₹85.20 (vs ₹72.15 in FY25).
  • · Consolidated basic and diluted EPS for Q4 FY26: ₹23.43 (vs ₹19.10 in Q4 FY25).
  • · Standalone revenue from operations for FY26: ₹11,949.73 Cr (FY25: ₹10,166.21 Cr).
  • · Standalone profit before exceptional items and tax for FY26: ₹3,104.44 Cr (FY25: ₹2,496.14 Cr).
  • · Exceptional items in FY26: net expense of ₹81.61 Cr (impact of labour codes and gain on sale of subsidiary).
  • · Final dividend record date fixed as July 17, 2026; payment on or before September 4, 2026.
  • · 65th AGM to be held on August 6, 2026 via video conferencing.
  • · Re-appointment of statutory auditors (Price Waterhouse & Co) for second term of 5 years from 65th AGM to 70th AGM (2031).
  • · Appointment of cost auditors (Joshi Apte & Associates) for FY26-27.
  • · Scrutinizer appointed: Mehta & Mehta, Company Secretaries, Pune.
Likhitha Infrastructure Limited Corporate Governance neutral materiality 5/10

27-05-2026

Likhitha Infrastructure Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The Board also re-appointed M/s. Mukul Tyagi & Associates as Internal Auditors for FY 2025-26 and appointed M/s. HLB HAMT Management Consultancy LLC as Branch Auditor for the Abu Dhabi branch for FY 2026-27. The filing does not disclose specific financial figures, so no period-over-period comparisons or performance trends can be extracted.

  • · The Board meeting commenced at 11:50 AM and concluded at 2:37 PM on May 27, 2026.
  • · The audit reports for both standalone and consolidated results carry an unmodified opinion.
  • · The consolidated results include two subsidiaries: CPM-Likhitha Consortium (India) and Likhitha HAK Arabia Contracting Company (Saudi Arabia).
  • · The Q4 FY2026 figures are balancing figures between audited annual results and unaudited nine-month figures.
  • · M/s. Mukul Tyagi & Associates was re-appointed as Internal Auditors for FY 2025-26.
  • · M/s. HLB HAMT Management Consultancy LLC was appointed as Branch Auditor for the Abu Dhabi branch for FY 2026-27.
Cummins India Limited Corporate Action mixed materiality 8/10

27-05-2026

Cummins India Limited reported audited consolidated financial results for Q4 and FY ended March 31, 2026. Consolidated revenue from operations grew 22.0% YoY to ₹11,949.73 Crore for FY26, while profit after tax increased 18.1% YoY to ₹2,361.75 Crore. However, Q4 FY26 revenue of ₹2,963.20 Crore declined 1.4% sequentially from ₹3,006.24 Crore in Q3 FY26, and profit after tax of ₹649.46 Crore was up 33.6% QoQ but included exceptional items. The Board recommended a final dividend of ₹46 per share (2,300%) for FY26, in addition to the interim dividend of ₹20 per share, and approved re-appointment of statutory auditors for a second term.

  • · Consolidated other income for FY26 was ₹517.34 Cr vs ₹446.92 Cr in FY25.
  • · Consolidated total expenses for FY26 were ₹9,759.25 Cr vs ₹8,511.57 Cr in FY25.
  • · Consolidated exceptional items for FY26 were a net expense of ₹81.61 Cr (including ₹32.34 Cr impact of labour codes in Q4 and ₹126.54 Cr in Q3, partially offset by gain on sale of subsidiary of ₹12.59 Cr).
  • · Standalone revenue from operations for FY26 was ₹11,949.73 Cr vs ₹10,166.21 Cr in FY25 (17.5% YoY growth).
  • · Standalone profit before exceptional items and tax for FY26 was ₹3,104.44 Cr vs ₹2,496.14 Cr in FY25 (24.4% YoY growth).
  • · Record date for final dividend eligibility is July 17, 2026; dividend payment on or before September 4, 2026.
  • · 65th AGM scheduled for August 6, 2026 via video conferencing.
  • · Re-appointment of statutory auditors (Price Waterhouse & Co) for second term of 5 years from 65th AGM to 70th AGM (2031), subject to shareholder approval.
  • · Appointment of cost auditors (Joshi Apte & Associates) for FY 2026-27.
  • · Scrutinizer appointed: M/s. Mehta & Mehta, Company Secretaries, Pune.
DHP India Ltd. Merger/Acquisition neutral materiality 1/10

27-05-2026

DHP India Ltd. filed a disclosure under SEBI SAST Regulation 29(2) regarding Counter Cyclical Investment Pvt Ltd. No financial details, deal structure, or strategic rationale are provided in the filing. The disclosure is informational only.

  • · Filing date: May 27, 2026
  • · Source: BSE
  • · Sector: Technology
APM Industries Ltd. Corporate Governance negative materiality 8/10

27-05-2026

APM Industries Ltd. reported a net loss of ₹352 Lakh for the quarter ended March 31, 2026, compared to a net profit of ₹67 Lakh in the same quarter last year, driven by exceptional items including a loss on disposal of power generating sets. For the full fiscal year 2026, the company posted a net loss of ₹266 Lakh versus a net loss of ₹61 Lakh in FY2025. Revenue from operations declined 4.2% year-on-year for the quarter and 8.1% for the full year, while total expenses remained relatively flat, leading to margin compression.

  • · Exceptional items for FY2026 totaled ₹210 Lakh, including a loss of ₹195 Lakh on disposal of 2 Power Generating Sets, a provision of ₹58 Lakh for incremental past-period employee benefits liability under new Labour Codes, and compensation of ₹43 Lakh from a real estate developer.
  • · Total comprehensive income for FY2026 was a loss of ₹237 Lakh, compared to a loss of ₹53 Lakh in FY2025.
  • · Earnings per share (EPS) for FY2026 was negative ₹1.23, versus negative ₹0.28 in FY2025.
  • · Total equity decreased from ₹16,931 Lakh as at March 31, 2025 to ₹16,694 Lakh as at March 31, 2026.
  • · Current borrowings increased sharply to ₹1,239 Lakh from ₹638 Lakh a year ago.
  • · Cash and cash equivalents stood at only ₹1 Lakh as at March 31, 2026, down from ₹2 Lakh a year earlier.
  • · The company operates in a single segment: manufacturing and selling of yarn in India.
T & I Global Ltd. Merger/Acquisition neutral materiality 1/10

27-05-2026

T & I Global Ltd. received a disclosure under SEBI SAST Regulation 29(2) from Counter Cylical Investment Pvt Ltd. No deal structure, valuation, or strategic rationale is disclosed in the filing. The filing is purely a regulatory disclosure with no quantitative data on transaction value, share count, or financial metrics.

Sukhjit Starch & Chemicals Limited Corporate Action neutral materiality 6/10

27-05-2026

Sukhjit Starch & Chemicals Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, and recommended a final dividend of ₹1 per equity share (20% on face value of ₹5). The Board also approved shifting the registered office to Rehana Jattan, Phagwara, and re-appointed Sh. Madan Gopal Sharma as Executive Director for five more years. No specific financial figures or period-over-period comparisons were provided in the filing, so performance trends cannot be assessed.

  • · Board meeting commenced at 11:30 AM and concluded at 2:15 PM on May 27, 2026.
  • · Re-appointment of Sh. Madan Gopal Sharma as Executive Director from June 1, 2026 to May 31, 2031.
  • · Re-appointment of M/s Kushwinder Kumar & Associates as Cost Auditors for FY ending March 31, 2027.
  • · Registered office to shift from Sarai Road, Phagwara (144401) to Rehana Jattan, Teh. Phagwara (144407), within same tehsil/district.
  • · Dividend is subject to shareholder approval at the ensuing Annual General Meeting.
Conart Engineers Ltd. Corporate Governance neutral materiality 3/10

27-05-2026

Conart Engineers Ltd. has informed BSE that a Board Meeting will be held on May 30, 2026, to consider and approve the audited financial results for the quarter and year ended March 31, 2026. The trading window for insiders has been closed since April 1, 2026, and will reopen on June 2, 2026, 48 hours after the results are declared.

  • · Trading window closure period: April 1, 2026 to June 2, 2026
  • · Board meeting date: Saturday, May 30, 2026
  • · Scrip Code: 522231
  • · CIN: L45200MH1973PLC017072
CARYSIL LIMITED Analyst/Investor Meet positive materiality 8/10

27-05-2026

Carysil Limited reported strong Q4 FY26 results with total income of INR237 crore (up 16% YoY), EBITDA of INR48 crore (up 33% YoY), and PAT of INR27 crore (up 42% YoY). For FY26, total income grew 14% to INR932 crore, EBITDA rose 30% to INR185 crore, and PAT increased 53% to INR98 crore. However, the UK market remains challenging, and the company faces geopolitical uncertainties and tariff-related disruptions.

  • · Carysil's UK manufacturing is dedicated solely to the UK market, which remains challenging.
  • · Carysil Corporation USA achieved operational breakeven during FY26.
  • · Online business contributed approximately INR5 crore in FY26 and is expected to scale 2x-3x in FY27.
  • · The company has acquired adjacent land for future expansion of stainless steel sink capacity.
  • · Carysil has hired a new business development manager based in Germany to penetrate the German and neighboring European markets.
  • · A second branded store in UAE is opening soon.
  • · The company plans to invest in advanced manufacturing technologies for built-in appliances, including glass cutting, forming, and color coating.
  • · Carysil has launched a dedicated B2B vertical targeting top architects and builder institutions in India.
  • · Gross debt stood at INR270 crore and cash at INR59 crore as of March 31, 2026.
  • · Total capex of INR68 crore was incurred during FY26.
Alfred Herbert (India) Ltd. Corporate Governance neutral materiality 5/10

27-05-2026

Alfred Herbert (India) Ltd. announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with an unmodified audit opinion. The Board also recommended a dividend of ₹20.00 per equity share (200% on face value of ₹10) for FY2026, subject to shareholder approval. No specific financial figures or period-over-period comparisons were provided in the filing, so performance trends cannot be assessed.

  • · The Board meeting commenced at 11:30 AM and concluded at 2:15 PM on May 27, 2026.
  • · Mrs. Simika Lodha retires by rotation at the upcoming 106th Annual General Meeting and seeks reappointment.
  • · The company will publish the audited results in newspapers as per SEBI LODR requirements.
Pan India Corporation Ltd Corporate Governance negative materiality 6/10

27-05-2026

Pan India Corporation Ltd reported audited standalone financial results for Q4 and FY ended March 31, 2026, with the auditor issuing an unmodified opinion. The company incurred a loss for the year, and the auditor noted a modification regarding maintenance of accounts under Rule 11(g). No deviations or defaults were reported.

  • · Auditor's report includes a modification relating to maintenance of accounts under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
  • · No funds were required to be transferred to the Investor Education and Protection Fund.
  • · The company has disclosed pending litigations in Note 20(9)(a) of the financial statements.
  • · No long-term contracts with material foreseeable losses were identified.
  • · Management represented that no funds were advanced or received in violation of regulations.
DHANSAFAL FINSERVE LIMITED Corporate Governance mixed materiality 8/10

27-05-2026

Dhansafal Finserve Limited reported audited financial results for the quarter and year ended March 31, 2026. For the full year, total revenue grew 142% to ₹1,250.11 Lakhs and net profit after tax nearly doubled to ₹73.33 Lakhs from ₹37.14 Lakhs in FY25. However, the company's cash flow from operations remained deeply negative at ₹(3,887.81) Lakhs, reflecting heavy working capital deployment in loan growth.

  • · The company's name was formerly Luharuka Media & Infra Limited.
  • · Quarterly net profit for Q4 FY26 was ₹50.00 Lakhs, up from ₹19.10 Lakhs in Q4 FY25.
  • · Quarterly revenue for Q4 FY26 was ₹367.82 Lakhs, up from ₹186.60 Lakhs in Q4 FY25.
  • · Earnings per share (basic) for FY26 was ₹0.03, compared to ₹0.02 in FY25.
  • · The trading window will open on Saturday, May 30, 2026.
  • · The auditor's report expressed an unmodified opinion on the financial statements.
  • · Total Equity increased from ₹3,478.76 Lakhs (FY25) to ₹4,375.89 Lakhs (FY26) in reserves, and equity share capital rose from ₹1,874.40 Lakhs to ₹2,271.40 Lakhs.
  • · Cash flow from operations was negative ₹(3,887.81) Lakhs in FY26, compared to negative ₹(3,513.25) Lakhs in FY25.
CHL Limited Corporate Governance mixed materiality 7/10

27-05-2026

CHL Limited's Board of Directors approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. However, the auditor's report highlights an ongoing litigation involving a subsidiary's loan from EXIM Bank, for which the company is a guarantor, with a One Time Settlement of ₹34 million under implementation and a separate liability crystallized at USD 34 million by the Economic Court of Dushanbe.

  • · Board meeting commenced at 10:30 AM and concluded at 2:25 PM on May 27, 2026.
  • · Mr. Luv Malhotra, Managing Director, was selected as Chairman of the Board Meeting.
  • · The auditor's report includes an Emphasis of Matter regarding pending litigation with EXIM Bank in the Hon’ble Supreme Court of India and Debt Recovery Tribunal, Delhi.
  • · EXIM Bank's Civil Appeal No. 1671 of 2019 is pending before the Supreme Court, challenging NCLAT's dismissal of the IBC petition.
  • · The consolidated results include the subsidiary CJSC CHL International.
Spencer's Retail Limited Analyst/Investor Meet mixed materiality 8/10

27-05-2026

Spencer's Retail reported Q4 FY26 consolidated revenue of ₹436 crore, up 6% YoY from ₹412 crore, driven by 8% growth in the Spencer's format to ₹380 crore. However, full-year revenue declined 10% to ₹1,800 crore due to store closures. The company achieved marginal consolidated EBITDA of ₹2 crore (vs flat last year), while Spencer's format EBITDA rose 40% to ₹14 crore. Membership program and online growth (37% YoY to ₹200 crore) were key drivers, but the company still posted a PBT loss of ₹250 crore, flat YoY.

  • · Spencer's format gross margin in Q4 was 17.5% vs 17.8% YoY; full-year margin improved 90 bps to 19%.
  • · Online business ABV is ₹760 per order, with gross margin per order ~₹110 and fulfillment cost ~₹98-99, achieving unit-level breakeven.
  • · Membership program: members shop 4.5x per month vs non-members 2.5x; average monthly spend of members ~₹8,000; N+1 retention rate >80%.
  • · Members contribute 20-22% of monthly sales.
  • · Store EBITDA doubled in FY26 vs FY25, but still below the 8% target; management expects to achieve 8% store EBITDA in FY27.
  • · Pre-Ind AS EBITDA losses on offline business reduced significantly (exact figure not disclosed).
  • · No new store additions; growth driven from existing footprint.

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